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Strengthening the institutional framework of the contemporary Islamic finance: comparative analysis between Malaysia, Saudi Arabia, Pakistan and Sudan


Md Nor, Mohd Zakhiri (2012) Strengthening the institutional framework of the contemporary Islamic finance: comparative analysis between Malaysia, Saudi Arabia, Pakistan and Sudan. In: 5th International Conference on Islamic Banking and Finance: Risk Management, Regulation and Supervision, 06-08 October 2012, Amman, Jordan.

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Abstract

This paper is drawn from an ongoing Ph.D dissertation which seeks to examine the roles of fatwa, Shariah resolutions, court judgment and governmental policies in the contemporary Islamic finance in Malaysia, with cross reference with the practices in Saudi Arabia, Pakistan and the Sudan. The research is currently at the reporting of the findings stage. The main objective of the paper is to review some of the existing literature quest for Institutional framework of contemporary Islamic finance is not properly located to build the argument for strengthening the Institutional framework and practice in contemporary Islamic finance with the view to minimize the Shariah and legal risks involved. The methodology employed for the research is library-based research on both primary and secondary sources of data, including text books, journal articles, online references, state g uidelines, legislations and decided cases. Hopefully, the research could become a catalyst for future research on the governance of Islamic finance within the context of mixed jurisdictions of the contemporary practices both locally and internationally. Keywords: Institutional framework, Shariah and legal risks, Contemporary Islamic Finance

Item Type: Conference or Workshop Item (Paper)
Additional Information: ORGANIZERS: Central Bank of Jordan (Amman), Jordan, Islamic Research and Training Institute, and the Islamic Development Bank, Jeddah
Subjects: H Social Sciences > HG Finance
K Law > K Law (General)
Divisions: School of Law
Depositing User: Dr. Mohd Zakhiri Md. Nor
Date Deposited: 18 Apr 2017 07:04
Last Modified: 18 Apr 2017 07:04
URI: http://repo.uum.edu.my/id/eprint/21640

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